Can I finance a remodel if I have an existing mortgage?
Yes, you can finance a remodel even if you have an existing mortgage, and there are several options available that allow you to access funds without needing to refinance your current mortgage. One popular option is a home equity loan, which lets you borrow against the equity you’ve built up in your home. This type of loan typically comes with a fixed interest rate and repayment term, making it a predictable and stable choice. Another option is a Home Equity Line of Credit (HELOC), which functions more like a credit card, allowing you to draw funds as needed up to a certain limit. HELOCs usually have variable interest rates and offer flexibility in terms of repayment, especially during the draw period.
Can The Authority Companies help me determine the best financing fit for my project?
Absolutely. The Authority Companies are committed to guiding you through every step of your home remodel, including helping you find the best financing option for your specific project. We understand that every homeowner’s financial situation and renovation goals are unique, so we take the time to assess your needs and provide personalized recommendations. Our partnerships with leading lenders allow us to offer a variety of financing solutions, from loans based on your home’s future value to flexible payment plans tailored for home improvements. Whether you’re looking for a way to fund a small upgrade or a major remodel, we’ll work with you to explore all available options, ensuring you choose the financing that aligns with your budget and renovation goals. With our expertise and resources, you can move forward with your project confidently, knowing you have the right financial strategy in place.
| THE AUTHORITY COMPANIES MAGAZINE 19
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